Financiere des Professionnels Fonds d investissement inc. Acquires Shares of 2,159 Itron, Inc. $ITRI

Key Points

• Financiere des Professionnels Fonds d investissement inc. acquired 2,159 shares of Itron, Inc. valued at approximately $284,000 during the 2nd quarter, indicating strong interest from institutional investors.
• Wall Street analysts have shown confidence in Itron, with multiple firms upgrading their ratings and target prices, resulting in an average rating of "Moderate Buy" and a price target of $136.55.
• Itron's recent earnings report revealed an EPS of $1.62, surpassing expectations, despite a slight year-over-year revenue decline, showcasing the company's ability to grow profits amid market challenges.

Financiere des Professionnels Fonds d investissement inc. purchased a new position in Itron, Inc. (NASDAQ:ITRI - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 2,159 shares of the scientific and technical instruments company's stock, valued at approximately $284,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in ITRI. Wayfinding Financial LLC purchased a new position in Itron in the first quarter worth about $45,000. Quarry LP lifted its stake in shares of Itron by 155.6% during the 1st quarter. Quarry LP now owns 910 shares of the scientific and technical instruments company's stock worth $95,000 after acquiring an additional 554 shares during the last quarter. Contravisory Investment Management Inc. lifted its stake in shares of Itron by 98.0% during the 1st quarter. Contravisory Investment Management Inc. now owns 1,711 shares of the scientific and technical instruments company's stock worth $179,000 after acquiring an additional 847 shares during the last quarter. Captrust Financial Advisors lifted its stake in shares of Itron by 6.3% during the 4th quarter. Captrust Financial Advisors now owns 2,144 shares of the scientific and technical instruments company's stock worth $233,000 after acquiring an additional 128 shares during the last quarter. Finally, Pinnacle Wealth Management Advisory Group LLC lifted its stake in shares of Itron by 7.3% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 2,345 shares of the scientific and technical instruments company's stock worth $246,000 after acquiring an additional 160 shares during the last quarter. Hedge funds and other institutional investors own 96.19% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ITRI. Stephens set a $130.00 price target on Itron in a research note on Monday, August 4th. Guggenheim reissued a "buy" rating and issued a $155.00 price objective (up previously from $133.00) on shares of Itron in a research note on Monday, July 14th. Wall Street Zen downgraded shares of Itron from a "buy" rating to a "hold" rating in a research note on Saturday. JPMorgan Chase & Co. raised Itron from a "neutral" rating to an "overweight" rating and upped their price target for the stock from $128.00 to $145.00 in a research report on Thursday, July 31st. Finally, TD Cowen upped their price target on Itron from $139.00 to $145.00 and gave the stock a "buy" rating in a research report on Friday, June 20th. Ten investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, Itron has an average rating of "Moderate Buy" and an average target price of $136.55.

Itron Price Performance

Shares of ITRI stock traded up $1.29 during mid-day trading on Monday, hitting $121.92. 98,001 shares of the stock were exchanged, compared to its average volume of 599,091. The firm has a fifty day moving average of $126.37 and a 200 day moving average of $117.99. The company has a quick ratio of 1.75, a current ratio of 2.04 and a debt-to-equity ratio of 0.48. Itron, Inc. has a 52-week low of $90.11 and a 52-week high of $140.04. The company has a market cap of $5.57 billion, a PE ratio of 20.84, a price-to-earnings-growth ratio of 0.66 and a beta of 1.46.

Itron (NASDAQ:ITRI - Get Free Report) last posted its earnings results on Thursday, July 31st. The scientific and technical instruments company reported $1.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.29. Itron had a net margin of 11.05% and a return on equity of 19.69%. The business had revenue of $606.76 million for the quarter, compared to analyst estimates of $610.36 million. During the same period in the prior year, the company posted $1.21 EPS. The company's revenue for the quarter was down .4% on a year-over-year basis. Itron has set its FY 2025 guidance at 6.000-6.200 EPS. Q3 2025 guidance at 1.450-1.550 EPS. Research analysts anticipate that Itron, Inc. will post 5.33 earnings per share for the current year.

Insider Buying and Selling at Itron

In related news, CFO Joan S. Hooper sold 970 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total value of $121,550.70. Following the transaction, the chief financial officer directly owned 88,394 shares of the company's stock, valued at approximately $11,076,652.14. This trade represents a 1.09% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Justin K. Patrick sold 388 shares of the firm's stock in a transaction dated Monday, August 25th. The shares were sold at an average price of $125.31, for a total transaction of $48,620.28. Following the completion of the transaction, the senior vice president directly owned 20,761 shares in the company, valued at $2,601,560.91. This represents a 1.83% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 3,037 shares of company stock worth $380,566. 1.51% of the stock is currently owned by company insiders.

About Itron

Itron, Inc, a technology, solutions, and service company, provides end-to-end solutions that help manage energy, water, and smart city operations worldwide. It operates in three segments: Device Solutions, Networked Solutions, and Outcomes. The Device Solutions segment offers hardware products that are used for measurement, control, or sensing, such as standard gas, electricity, water, and communicating meters, as well as heat and allocation products.